Concierge.com's insider take:

It could not be more central or more subtly beautiful, with decor by Olga Polizzi, sister of Rocco Forte, to whose select hotel chain this belongs. On the other hand, its rates could hardly be higher. For the 188 exquisite chambers, Polizzi has selected a heather-on-the-Highland-moors palette: lavender, cream, moss, and peat in costly wools, leather, silks, and linens. The best rooms have views of Edinburgh Castle. But look out (or rather, don't…): A great many of them face inward, with no view at all; even the biggest of the ($600-odd) Deluxe rooms are marred by this problem. The Balmoral Spa has a gorgeous 15-meter pool overlooked by a juice bar, sauna, and steam rooms. There's an impressive gym, and also studio facilities and five treatment rooms using E'SPA products. The fanciest of the hotel's three restaurants (appropriately named Number One) is among the best in the city. If you're after less fancy dining, there's the informal brasserie called Hadrian's. The elegant Palm Court, the hotel's Bollinger Bar, is an open, airy space with comfy settees, a domed ceiling, and a beautiful Venetian glass chandelier—an especially genteel spot to enjoy afternoon tea listening to the soothing melodies of the resident harpist.